6 Money-Saving Tricks That Actually Work

Those one dollar bills really add up.

1. Add a dollar to your savings a week.
"I had been depressed about not being able to save: No matter how much overtime I put in, the money was gone instantly! Then on New Year's Day I came across a chart online called 'The 52-Week Money Challenge.' You put away one dollar the first week, two the next, three after that, and so on — and at the end of the year, you have $1,378! Maybe because I could ease into it, it seemed like I could commit. I posted on Facebook, and did it with friends so we could support one another when we had the urge to splurge. At the end of the year, I had savings for the first time ever!" — Kassondra Perry-Moreland from Union City, CA

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Bonus tip: Many banks and credit unions will let you schedule the transfers ahead of time online. Set up a dedicated, interest-bearing account and cut up your ATM card. You won't be needing it for withdrawals for at least a year!

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2. Photograph your receipts.
"The ReceiptHog.com app gives you 'coins' for submitting photos of grocery and superstore receipts, and for filling out surveys. Then you can redeem the coins through PayPal for cash or as an Amazon gift card. This money is my savings. I made about $80 in the first few months. Every once in a while, I surprise my husband by putting gas in his truck." — Kimberly Porter from Buford, GA

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Bonus tip: You may have the urge to spend more simply to collect more "coins," but that would be counterproductive. Just put an envelope in your purse to hold your regular receipts and submit them once a week, or consider letting an older child send them in as a way to learn about household finances.

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3. Downsize to one car.
"It was the hardest thing I ever did, but a couple of years ago, we gave up our second car. It had been costing us $8,000 a year just to sit in a commuter parking lot all day while I was at work. I was very car-dependent, and even friends and family said, 'I'll give you three months.' But I started taking the bus to my train and I kept my eye on the benefits: I'm saving $675 a month! The money goes to my retirement savings and to doing more with my husband and daughter." — Cindy Smith from Courtice, Ontario

4. Stash singles.
"I always felt like I didn't make enough money to save, but one day in a bookstore, I noticed how easily I pulled out $1 bills to use on impulse purchases — it was almost like I wasn't counting them as money! So instead, I started putting my $1 bills in an envelope at work — if I had them at home it would have been too easy to dip in for a pizza or whatever. I don't even miss them! I'm less tempted to buy stupid little things, and when I needed a car repair, I was able to pull out $300 cash instead of having to use a credit card! Even with that, I've saved almost $600 in two years." — Rose Dolphin from Montgomery Village, MD

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Bonus tip: Try stashing fivers. Because $5 bills are less common than singles (29% of bills printed by the U.S. Treasury are ones, and only 7% are fives), you'll do the wallet clear-out less often. Try both for a week and see which yields you more savings.

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5. Name your savings.
"I promised my daughter that if she saved half the money she needed to buy a used car when she turned 16, I'd match it. Well, by age 15 she had $4,000! To catch up, I set up an automatic transfer into an online savings account every month. But the key was calling the account 'Happy Sweet 16.' Every time I saw that pop up on my statement, I smiled — which made saving much more fun." — Jackie Cummings Koski Dayton, OH

Bonus tip: Online-only banks will let you name multiple accounts (think, "Mama's new foot massager"). Plus, if you decline the ATM card, it takes days to get the money — no more impulse purchases.

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6. Sort your groceries.
"After going through the supermarket, I pull up a second cart and take out all the 'want' items— like soda and cookies — as opposed to the 'need' items. Then I add up how much I would have spent buying the want items, and I stick the savings in my travel fund. It's like window shopping: I get to savor the idea of buying these things, but then I use the money to travel instead. It also doesn't feel so hard to put aside what I was willing to spend on junk anyway." — Julie Cowart from Stevenson, WA

Bonus tip: Having to put back all those unpurchased items is added work for some poor store clerk, so consider another winnowing option. Some stores, like Stop & Shop, offer handheld bar code scanners so you can tally your grocery bill as you go along. Use these devices to figure out how much more you'll have for your vacation by resisting the "want" items. If your resolve flags, ask yourself what you want more: that pack of chips — or the white sands of the Bahamas.